Digital currency enthusiasts have been watching the Tether project grow for years now and to-date the firm has $9.8 billion in total liabilities according to the company’s transparency page. The USDT stablecoin is spread across various blockchains including Ethereum, Tron, Algorand, and EOS. Just recently, USDT was migrated onto the Bitcoin Cash blockchain by leveraging the Simple Ledger Protocol.
Bitcoin Cash supporters are now aware that there are over 6 million SLP-based USDT in circulation today. Data stemming from simpleledger.info and a BCH blockchain explorer shows that SLP-based tethers are circulating quite frequently. A number of BCH supporters have been discussing the benefits of SLP-based stablecoins and the Cointext CTO, Vin Armani, discussed the subject on July 11.
Armani tweeted a link from news.Bitcoin.com, which reported on millions of dollars worth of USDT stablecoins frozen in 40 addresses. “You can’t stop me from using a Bitcoin address for which I have the key(s). There’s no ‘freeze address’ function on Bitcoin, as has been added to these Ethereum stablecoin contracts,” Armani said. The Cointext founder further stated: